Assemblywoman Galef’s “Speak Out” TV Show Series Focuses on Creating a New York State Public Bank

Panelists explore the inner workings of the creation of a state bank

Assemblywoman Sandy Galef continues to draw attention to the subject of creating a New York State public bank as a way to solve our state’s ongoing economic issues. Galef recently moderated a panel at Mapleton Conference Center at Good Counsel in White Plains to discuss how the creation of a public bank would benefit the state’s economy as well as the state itself. The forum, which was organized by WESPAC, an organization that promotes progressive social change within Westchester County, featured three panelists, Scott Baker, the NYS Coordinator of the Public Banking Institute; Felice Gelman, a Certified Financial Analyst and a past president of the New York Bank and Financial Analysts Society; and Mark Treskon, Senior Policy Strategist at the Center for Working Families. In January 2013, Assemblywoman Galef introduced legislation (A1696) establishing a commission to study the feasibility of a New York State Bank similar to the commissions formed in other states. The idea of a state owned public bank is not a freshly formed notion: the state of North Dakota has had its state bank operating since 1919. The panelists at the forum help explain how the creation of this bank would improve the state’s economy by strengthening local banks and the community as a whole. They also explain the ideal way to run a public bank and include examples of programs which could rise from its establishment. The forum is airing as a three part series on a rotating basis. The segments include an introduction of the topic of a NYS Public bank and then explore its basic tenets, as well as the steps that have taken place and worked in North Dakota, which has the only state owned bank within the United States. The series includes a question and answer session with Assemblywoman Galef and the distinguished panel. “I appreciated the expert panelists who participated in the forum and WESPAC for hosting a conversation on the tenets of a public bank,” said Galef. “In light of the recent fiscal crisis, the prospect of a state owned and operated public bank is something that must be further examined. The creation of a consistently funded and well-managed public bank, which must serve a well defined social purpose, could lead to the formation of many local projects that could create jobs which strengthen our communities as well as our local economy.” Tune in to cable television on the following days and times to learn more.

“Speak Out” with Assemblywoman Sandy Galef “Exploring a State Bank for NYS” airs as follows: Cablevision
Part 1 Airs July 24, August 14, September 4 & 25
Part 2 Airs July 31, Aug 21, September 11, October 2
Part 3 Airs August 7 & 28, September 18, October 9 Ossining and Peekskill airs on Channel 15: Wednesday at 8:00 p.m.
(Briarcliff, Ossining, Scarborough, Buchanan, Cortlandt, Croton, Garrison, Montrose, Peekskill, Philipstown South, Verplanck)
Wappingers Falls airs on Channel 21: Wednesday at 8:00 p.m.
(Cold Spring, Philipstown North)
Yorktown airs on Channel 74: Wednesday at 8:00 p.m.
(Lake Peekskill, Putnam Valley) Comcast
Please check your local listings for air dates
Carmel, Kent, Mahopac & Putnam Valley Channel 8: Wednesdays at 7:30 Verizon FiOS Customers
Please check your local listings for air dates and times